Italy's GDP will expand by 0.5% this
year and will accelerate during the following three years, at an
average annual rate of around 1%, driven by a recovery in
consumption and exports, the country's central bank said on
Friday.
The Bank of Italy specified that its estimates were adjusted for
the number of days worked, contrary to estimates elaborated by
the economy ministry in the Structural Budget Plan (PSB) in
September.
In order to compare the central bank's estimates to those of the
economy ministry, it is necessary consider projections not
adjusted for the number of days worked per year, or +0.7%
compared to +1.0 outlined by the PSB.
The Bank of Italy also said inflation is projected to remain
low, at 1.1% on average this year, 1.5% in the next two years,
and 2.0% in 2027.
"The fading of the strong negative contribution of the energy
component and, in 2027, the temporary effects of the entry into
force of the EU Emission Trading System 2 (ETS2) legislation
will likely be the main drivers of the rise in inflation", the
central bank said in a note.
Core inflation "is projected to be just over 2% on average this
year and to decline to just over 1.5% in the next three years",
the central bank said.
ALL RIGHTS RESERVED © Copyright ANSA
